The Week Ahead
Monday, Feb. 1, 8:30 a.m. EST -- Personal income likely rose 0.5% in December, and consumer spending increased 0.6%, says the median forecast of economists polled by Standard & Poor's MMS, one of The McGraw-Hill Companies. In November, income grew 0.5%, with spending up 0.1%.
Monday, Feb. 1, 10 a.m. EST -- Outlays for buildings likely rose 0.5% in December, after jumping 0.9% in November.
Monday, Feb. 1, 10 a.m. EST -- The National Association of Purchasing Management's business index likely edged up to 46% in January, from 45.1% in December. Falling exports are hurting factory activity.
Tuesday, Feb. 2 -- The Federal Reserve's Open Market Committee will meet to set monetary policy. No economist surveyed by S&P MMS expects the Fed to change the federal funds rate from its current 4.75%. The meeting continues on Feb. 3.
Tuesday, Feb. 2, 10 a.m. EST -- The Conference Board's index of leading indicators probably increased 0.2% in December, following a 0.6% jump in November.
NEW HOME SALES
Tuesday, Feb. 2, 10 a.m. EST -- New homes likely sold at an annual rate of 935,000 in December, from November's 965,000 pace.
Friday, Feb. 5, 8:30 a.m. EST -- The S&P MMS survey forecasts a 150,000 gain in nonfarm jobs in January, following a weather-boosted jump of 378,000 in December. The unemployment rate probably edged up to 4.4% from December's 4.3% rate.
Friday, Feb. 5, 3 p.m. EST -- Consumers in December probably took on $6 billion in new debt.